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Kartell und Marktprozeß : ein stochastischer Ansatz

Haas, Armin - 2002

Persistent link: https://www.econbiz.de/10001631277

Kartell und Marktprozeß : ein stochastischer Ansatz

Haas, Armin - 2002

Märkte darzustellen. Um den Prozeßcharakter von Märkten abbilden zu können, wird deshalb die Theorie diskreter Entscheidungen … eine Vermutung von Praktikern theoretisch untermauern: Trotz des Trittbrettfahrerproblems kann es einem Kartell ohne … bindende Verträge und ohne Bestrafungsmechanismen gelingen, über lange Zeit erfolgreich zu sein. Zwar erreicht das Kartell …

Persistent link: https://www.econbiz.de/10011402167

Stochastic Market Sharing, Partial Communication and Collusion

Gerlach, Heiko A. - 2020

This paper analyzes the role of communication between firms in an infinitely repeated Bertrand game in which firms receive an imperfect private signal of a common value i.i.d. demand shock. It is shown that firms can use stochastic, inter-temporal market sharing as a perfect substitute for...

Persistent link: https://www.econbiz.de/10012705850

Quick or persistent? : strategic investment demanding versatility

Steg, Jan-Henrik; Thijssen, Jacco J. J. - 2015

In this paper we analyse a dynamic model of investment under uncertainty in a duopoly, in which each firm has an option to switch from the present market to a new market. We construct a subgame perfect equilibrium in mixed strategies and show that both preemption and attrition can occur along...

Persistent link: https://www.econbiz.de/10011284232

Market Power and Forward Prices

Ruddell, Keith - 2017

We construct a model of strategic behavior in sequential markets which exhibits a persistent forward price premium. On the spot market, producers wield market power while purchasers are price takers. Producers with forward commitments have less incentive to raise prices on the spot market....

Persistent link: https://www.econbiz.de/10012943364

Pricing Electricity Forwards under Future Information on the Stochastic Mean-Reversion Level

Hess, Markus - 2020

We extend the arithmetic multi-factor electricity spot price model proposed by Benth, Kallsen & Meyer-Brandis by adding stochastic mean-level processes to their model and by taking additional information on the future behavior of these mean-level processes into account. The available...

Persistent link: https://www.econbiz.de/10012848664

A Survey of Stochastic Inventory Models with Fixed Costs : Optimality of (s, S) and (s, S)-Type Policies

Perera, Sandun C.; Sethi, Suresh - 2022

Fixed costs of ordering items or setting up a process arise in many real-life scenarios. In their presence, the most widely used ordering policy in the stochastic inventory literature is the (s, S) policy. Optimality of (s, S) policies and (s, S)-type policies have been investigated for various...

Persistent link: https://www.econbiz.de/10014085423

Stochastic Models of Resonating Markets

Lucheroni, Carlo - 2011

This paper describes a way to model a seasonally and irregularly peaking price dynamics, as that originated in commodity and energy markets, using a system of coupled nonlinear stochastic differential equations. The specific case of an electric power market is used to show which microeconomic...

Persistent link: https://www.econbiz.de/10013124714

Stochastic Models for Spikes and Antispikes in Electricity Prices

Lucheroni, Carlo - 2011

This paper discusses a rather general approach to build nonlinear dynamic models that reproduce some important aspects of electricity price series, as spike and antispike dynamics. Two specific models are proposed first in a continuous time form, then in four discrete time forms. It is then...

Persistent link: https://www.econbiz.de/10013125340

An electricity market model with generation capacity expansion under uncertainty

Schröder, Andreas - 2012

thermal power plants. Results point to findings which are in line with general theory: Accounting for stochasticity increases …

Persistent link: https://www.econbiz.de/10009666498